Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 28 > Part VI - Urban Forestry

• amounts distributed in partial liquidation: means a distribution by a corporation in complete cancellation or redemption of a part of its stock, or one of a series of distributions in complete cancellation or redemption of all or a portion of its stock. See Louisiana Revised Statutes 47:159
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: shall mean the Retirement Board of the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
• City: shall mean the city of Bogalusa, Louisiana. See Louisiana Revised Statutes 11:3033
• Contract: A legal written agreement that becomes binding when signed.
• Department: means the Department of Transportation and Development. See Louisiana Revised Statutes 2:801
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• dividend: when used in this Chapter (except in La. See Louisiana Revised Statutes 47:159
• Effective date: shall mean July 1, 1953. See Louisiana Revised Statutes 11:3033
• Employee: shall mean any appointive officer or employee of the city now or hereafter employed by the city, whose services are compensated by the city in whole or in part, who is not covered by any existing pension fund maintained by the city. See Louisiana Revised Statutes 11:3033
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Member: shall mean any employee included in the membership of the system. See Louisiana Revised Statutes 11:3033
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Sponsor: means any state agency, city, town, parish, airport authority, or other political subdivision which owns, leases, or controls any airport, landing field, landing strip, seaplane base, helipad, or aid to air navigation. See Louisiana Revised Statutes 2:801
• System: shall mean the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
• Taxable year: includes , in the case of a return made for a fractional part of a year under the provisions of this Chapter or under regulations prescribed by the collector, the period for which return is made. See Louisiana Revised Statutes 47:98
• Total service: shall mean service rendered before the operative date of the system, and subsequent thereto. See Louisiana Revised Statutes 11:3033